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banking industry faces challenges as integration efforts and hiring slow down

Citi's Michael Lavelle has been appointed vice chairman of lending after three decades, while Blackstone's Joseph Baratta and Michael Chae join the ranks of billionaires. UBS's Mike Dargan received a $12m loan to aid in the complex integration of Credit Suisse, as the demand for junior bankers dwindles amid a challenging work environment. Meanwhile, HSBC faces pressure in equities trading, with US banks increasingly dominating the market.

blackstone insider transactions and institutional trading updates reported

Insider Joseph Baratta sold 116,448 shares of Blackstone at an average price of $150.81, totaling approximately $17.56 million, while retaining 799,749 shares valued at about $120.61 million. Following the transaction, insider ownership remained unchanged at 1.00%. Institutional investors hold 70.00% of the stock, with recent activity including new positions and increased holdings by various firms. Blackstone's stock price target was raised by UBS Group to $160.00, reflecting a neutral rating amid mixed analyst opinions.
18:06 16.10.2024
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